Xcode: Could not inspect the application package

Try to remove some libraries from your Xcode => Click on Target => General tab => Embedded Libraries (Keep only required libraries or Framework)

Here, remove (Use - sign on bottom to delete).

If you require the framework or libraries that you deleted, add this using Xcode => Click on Target => General tab => Linked framework and Libraries (Use - sign on bottom to add this).

This will work.

This can happen with Xcode 6 and iOS 8 if a product name contains non-latin characters. In this case changing product name to the one with only latin characters for debug builds fixes this problem.

This error seems to happen when you have third party code which isn't signed by you in your bundle. Check this thread, it helped me once.

Also when performing build clean opt for cmd + option + shift + k.